The bill amends Section 7-2-14.3 of the New Mexico Statutes to eliminate the requirement for a board of county commissioners to conduct a public hearing before adopting an ordinance that provides a property tax rebate for low-income taxpayers. The previous law mandated that a public hearing be held in January of every odd-numbered year if a county did not have an ordinance in effect. This requirement has been removed, streamlining the process for counties to adopt such ordinances.

Additionally, the bill clarifies that a board of county commissioners may adopt an ordinance to make the property tax rebate available, specifying the taxable years to which it applies. It also includes provisions for notifying the state department of the ordinance's adoption and outlines the responsibilities of the department in certifying the loss of income tax revenue attributable to the property tax rebates. The bill aims to facilitate access to tax relief for low-income property taxpayers by simplifying the legislative process at the county level.

Statutes affected:
introduced version: 7-2-14.3